Daytona Beach, FL – Median sales prices in the Daytona area condo market fell to $154,000 in February due to investor and vacation condo sales in the lower price ranges.

According to analysis of the Daytona Beach Multiple Listing Service (MLS) data by the Wyse Home Team at Keller Williams Realty, 114 condos sold in January with a median sales price of $154,000. This was a 48% increase from sales totals the same month a year ago, and a 52% increase from January’s sales.

Median sales prices fell by 9.7% as investors and tourists purchased low cost condos, priced under $150,000. According to the MLS report, condo sales for units priced under $150,000 in February were up by more than 50%, year over year.

“Even though it caused a temporary drop in median sales prices, the extra activity we’re seeing in the low price ranges of the condo market is a good thing,” said Ron Wysocarski, CEO of The Wyse Home Team at Keller Williams Realty. “It’s evidence of high consumer confidence at a national level coupled with strong demand for Daytona vacation rentals and our local tourism market seeing a resurgence. These are good things that benefit all property owners in our area.”

February Daytona Beach MLS data for condo and condotel sales combined, showed 114 condo/condotels sold in February 2017 with a median sales price of $154,000. In comparison, February 2016 saw 77 condo/condotels sold with a median sales price range of $169,000.

January 2017 saw 75 condo/condotels sold, with a median sales price range of %188,000, In comparison, January 2016, 92 condo/condotels sold with a median sales prices range of $153,500.

2017 Condo Sales YTD totals are 192 condo/condotels sold with a median sales price of $168,500. In comparison, 2016 saw 169 condo/condtels sold with a median price range of $157,500.

February Daytona Beach MLS data for condos and condotels separated showed 97 condos sold in February 2017, with a median price of $175,000 and 17 condotels sold, with a median price of $62,500.

Copyright Southern Stone Communications 2017.

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